Company Valuation: APAC Opto Electronics Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 2,487 2,495 2,343 6,594 7,657 6,187
Change - 0.31% -6.11% 181.47% 16.13% -19.2%
Enterprise Value (EV) 1 1,512 1,463 1,175 5,535 6,556 5,041
Change - -3.29% -19.65% 370.96% 18.44% -23.11%
P/E 20.6x 17.3x 9.1x 32.3x 34.8x 40.2x
PBR 1.63x 1.58x 1.38x 3.95x 4.49x 3.58x
PEG - 0.9x 0.1x -1.6x 4.54x -1.3x
Capitalization / Revenue 3.36x 3.2x 2.65x 7x 8.18x 7.59x
EV / Revenue 2.04x 1.88x 1.33x 5.88x 7x 6.19x
EV / EBITDA 8.21x 7.27x 4.66x 24.2x 29.1x 25.2x
EV / EBIT 9.51x 8.25x 5.1x 26.7x 32.3x 28.8x
EV / FCF 21.5x 12.9x 7.44x 86.5x 35.8x 38.6x
FCF Yield 4.64% 7.77% 13.4% 1.16% 2.79% 2.59%
Dividend per Share 2 1.1 1.8 3 2.4 1.75 -
Rate of return 3.46% 5.64% 10% 2.85% 1.79% -
EPS 2 1.54 1.84 3.29 2.61 2.81 1.97
Distribution rate 71.4% 97.8% 91.2% 92% 62.3% -
Net sales 1 740.8 778.9 884.8 941.4 936.2 814.7
EBITDA 1 184.2 201.2 252.3 228.5 225.7 200
EBIT 1 159 177.4 230.2 207.3 202.9 174.8
Net income 1 121.4 145.2 260.9 205.4 220.3 154.5
Net Debt 1 -974.9 -1,032 -1,167 -1,059 -1,102 -1,146
Reference price 2 31.80 31.90 29.95 84.30 97.90 79.10
Nbr of stocks (in thousands) 78,217 78,217 78,217 78,217 78,217 78,217
Announcement Date 31/3/21 31/3/22 31/3/23 29/3/24 28/3/25 27/3/26
1TWD in Million2TWD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 449M
37.25x12.85x23.66x0.78% 117B
71.12x10.39x49.98x1.05% 61.16B
38.85x1.82x20.72x-.--% 58.46B
29.91x2.44x11.69x1.11% 42.12B
31.58x4.78x19.11x-.--% 29.71B
34.41x2.11x15.02x1.57% 28.34B
9.05x5.22x10.05x2.18% 22.24B
38.21x2x18.18x0.44% 17.83B
33.64x5.17x20.68x0.68% 19.37B
Average 36.00x 5.20x 21.01x 0.87% 39.68B
Weighted average by Cap. 39.59x 7.07x 23.90x 0.8%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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